The Screen · Energy · Oil & Gas Refining & Marketing
Delek Logistics Partners, LP
DKL · the NYSE · USD · Market cap $3.2B
Delek Logistics Partners, LP provides gathering, pipeline, transportation, and other services for crude oil, intermediates, refined products, natural gas, storage, wholesale marketing, terminalling water disposal and rec…
FAIL · Does not pass the screen
54.69 USD
At the last full screen 2026-08-26
Screened 2026-08-26 · the tape above runs as of 22:12 UTC · 11 Sep · two dates, stated on purpose · verdict and workings shown in full · never trimmed
The Label · The Season, Not the Day
This name holds its distribution label.
Delek Logistics Partners, LP holds its Distribution at $54.69. Elevated stress, defensive posture warranted, held for 17 days.
As held on the ledger · 2026-08-26
Phase
Distribution · caution
Quantitative state
Elevated stress, defensive posture warranted, held for 17 days
Price at the screen
$54.69
Valuation
18.92 trailing · 14.30 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.43
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
85.62%
Below 33%
Interest-bearing debt is 85.6% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
12.31%
Below 49%
Money owed to the company is 12.3% of assets, under the 49% limit.
Pass
Revenue purity
11.10%
Below 5%
11.1% of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
Fair value range in USD, drawn from the 2026-08-26 screen. The gold marker is the market price at the same screen. The price runs 19.7% above the base estimate.
Third-party analyst targets: 6 covering, consensus Hold. The average target sits +1% from the screen price.
Reading the gap · Both our model and the Street see limited upside at this price.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-08-26 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Pipeline fees cannot mask oil cycle peaks
Picture a tanker driver threading crude through shale fields one year and idling the next when prices collapse. Delek Logistics offers the gathering and storage links that keep those barrels moving, yet the numbers show a business trading well above our fair value with a negative margin of safety. Revenue growth of 19 percent and a 16 percent profit margin look attractive on the surface, but the 14.4 times forward multiple sits on earnings that are almost certainly at a cyclical high.
A 439 percent ROE screams leverage rather than durable advantage, and the unknown moat leaves little protection when volumes or fees come under pressure. Analyst consensus is a hold with a $56 median target, yet that still prices the units above intrinsic worth in an industry where earnings can fall sharply once the cycle turns. Low multiples in refining and logistics have repeatedly proved to be warnings, not bargains.
The ethical screen clears, but the valuation gap and peak-cycle risk outweigh any income appeal. Cash flows tied to crude remain hostage to commodity swings and contract renewals that can vanish overnight. Analysis, not advice.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
DKL trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 3.4% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 10% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 36%. Our forward projection puts the odds of a 10% gain over the next month near 20%. The street (5 analysts) rates it none, with a mean price target of $51.
2026-07-26Markup$54.88+3.5%Entry 4
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 3.5% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 10% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 36%. Our forward projection puts the odds of a 10% gain over the next month near 20%. The street (5 analysts) rates it none, with a mean price target of $51.
2026-07-18Markup$53.02+0.0%Entry 3
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 10% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 36%. Our forward projection puts the odds of a 10% gain over the next month near 20%. The street (5 analysts) rates it none, with a mean price target of $51.
2026-07-03Markup$53.02+0.0%Entry 2
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
2026-07-02Markup$53.02Entry 1
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
